Hill City Capital LP Acquires New Holdings in ATS Corporation $ATS

Key Points

• Hill City Capital LP acquired 1.65 million ATS shares valued at approximately $47.5 million, giving it a 1.68% stake and making ATS its 18th-largest holding. Institutional investors collectively own 75.84% of the company.
• Analyst sentiment is mixed, with three Buy, three Hold and one Sell rating; the consensus rating is Hold with an average price target of $42.50.
• ATS reported quarterly EPS of $0.25, below the $0.28 estimate, while revenue fell 5.8% year over year to $488.4 million. The stock opened at $19.76, near its 12-month low of $19.14.

Hill City Capital LP acquired a new position in ATS Corporation (NYSE:ATS - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,649,857 shares of the company's stock, valued at approximately $47,483,000. ATS accounts for approximately 1.2% of Hill City Capital LP's investment portfolio, making the stock its 18th biggest holding. Hill City Capital LP owned about 1.68% of ATS at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ATS. Bank of Montreal Can increased its stake in ATS by 187.1% during the 4th quarter. Bank of Montreal Can now owns 3,022,693 shares of the company's stock valued at $83,269,000 after buying an additional 1,970,040 shares during the period. Janus Henderson Group PLC lifted its stake in shares of ATS by 166.5% in the 1st quarter. Janus Henderson Group PLC now owns 2,297,214 shares of the company's stock worth $64,544,000 after acquiring an additional 1,435,375 shares during the period. Alberta Investment Management Corp bought a new position in shares of ATS in the second quarter valued at approximately $33,904,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of ATS during the second quarter valued at approximately $31,371,000. Finally, Norges Bank acquired a new position in shares of ATS during the fourth quarter valued at approximately $29,727,000. Institutional investors own 75.84% of the company's stock.

Wall Street Analyst Weigh In

ATS has been the subject of a number of research analyst reports. Zacks Research downgraded ATS from a "hold" rating to a "strong sell" rating in a research report on Tuesday, June 9th. Royal Bank Of Canada decreased their price target on ATS from $51.00 to $50.00 and set an "outperform" rating for the company in a research note on Friday, May 29th. Wall Street Zen cut ATS from a "buy" rating to a "hold" rating in a research report on Sunday, July 12th. Weiss Ratings raised ATS from a "sell (d)" rating to a "hold (c-)" rating in a research note on Thursday. Finally, TD Securities lowered ATS from a "buy" rating to a "hold" rating in a report on Monday, August 10th. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, ATS has a consensus rating of "Hold" and an average target price of $42.50.

ATS Stock Performance

NYSE:ATS opened at $19.76 on Monday. The company has a 50-day moving average of $25.75 and a 200-day moving average of $29.15. The firm has a market cap of $1.94 billion, a price-to-earnings ratio of 58.12 and a beta of 1.22. The company has a current ratio of 1.63, a quick ratio of 1.33 and a debt-to-equity ratio of 0.75. ATS Corporation has a twelve month low of $19.14 and a twelve month high of $35.82.

ATS (NYSE:ATS - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported $0.25 EPS for the quarter, missing analysts' consensus estimates of $0.28 by ($0.03). ATS had a return on equity of 8.96% and a net margin of 1.60%.The business had revenue of $488.38 million during the quarter, compared to the consensus estimate of $509.71 million. During the same quarter in the previous year, the firm earned $0.41 earnings per share. The firm's revenue for the quarter was down 5.8% compared to the same quarter last year. Analysts forecast that ATS Corporation will post 1.12 earnings per share for the current fiscal year.

About ATS

ATS Corporation NYSE: ATS is a Canada-based global provider of automation and energy solutions. Headquartered in Cambridge, Ontario, the company specializes in the design, engineering and manufacturing of custom automation and test systems, as well as fluid handling and control products. Since its founding in 1978, ATS has focused on delivering integrated hardware and software solutions that help original equipment manufacturers (OEMs) improve efficiency, quality and throughput across a range of industries.

Through its Automation segment, ATS develops bespoke assembly and testing platforms for sectors such as life sciences, consumer electronics, automotive and industrial equipment.

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